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Multifamily

The Worthington | Sabal Inn Apartments

1652 N Tamiami Trail, North Fort Myers, FL 33903

Listing Price: Request For Offer

Number of Units
14
Occupancy
100.0%
Gross SF
5,538

Investment Overview

SP Multifamily Group of Marcus & Millichap is pleased to present qualified investors with the opportunity to acquire The Worthington and Sabal Inn Apartments. This portfolio is located in North Fort Myers, FL, just five minutes north of Downtown Fort Myers, and is made up of two assets located directly across the street from one another and totaling 26-units. Currently, the portfolio is fully occupied by tenants backed by the Salvation Army, offering stable and resilient cash flow for an investor. Moving forward, an investor has the opportunity to transition the electricity expense to the tenants with a 30-day notice per the lease terms, which should increase the annual net operating income by roughly $16,000.

Investment Highlights

  • Opportunity to Acquire Two Adjacent Cash Flowing Assets Creating Operational Efficiencies
  • Fully Occupied by Tenants Backed by the Salvation Army, Providing Investors With Stable Collections
  • 19.78% Upside in Net Operating Income By Incrementally Growing Rents and Recapturing In-Place Loss-To-Lease

Exclusively Listed By

Multifamily

The Worthington | Sabal Inn Apartments

Listing Price: Request For Offer

Number of Units
14
Occupancy
100.0%
Gross SF
5,538

Investment Highlights

  • Opportunity to Acquire Two Adjacent Cash Flowing Assets Creating Operational Efficiencies
  • Fully Occupied by Tenants Backed by the Salvation Army, Providing Investors With Stable Collections
  • 19.78% Upside in Net Operating Income By Incrementally Growing Rents and Recapturing In-Place Loss-To-Lease

Investment Overview

SP Multifamily Group of Marcus & Millichap is pleased to present qualified investors with the opportunity to acquire The Worthington and Sabal Inn Apartments. This portfolio is located in North Fort Myers, FL, just five minutes north of Downtown Fort Myers, and is made up of two assets located directly across the street from one another and totaling 26-units. Currently, the portfolio is fully occupied by tenants backed by the Salvation Army, offering stable and resilient cash flow for an investor. Moving forward, an investor has the opportunity to transition the electricity expense to the tenants with a 30-day notice per the lease terms, which should increase the annual net operating income by roughly $16,000.

Exclusively Listed By

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